Major drilling campaign unveils new targets for Northern Cobalt

Northern Cobalt ASX N27 first 2018 drill results Wollogorang cobalt more assays
Northern Cobalt has struck cobalt grading above 100ppm in 17% of holes to-date during ongoing drilling at Wollogorang.

Northern Cobalt (ASX: N27) has confirmed the discovery of significant new mineralised targets during its extensive drilling campaign at its advanced Wollogorang cobalt project in the Northern Territory.

The 15,000-metre campaign has so far intersected anomalous cobalt mineralisation in 53 out of 320 holes which have been shallow drill-tested.

The mineralisation has been reported to be in excess of 100 parts per million and is comparable to average samples of 147ppm taken over the project’s flagship Stanton cobalt deposit.

Peak cobalt values recorded at Stanton have been around 358ppm.

Northern Cobalt plans to conduct deeper follow-up drilling next month at all targets where significant mineralisation has shown the potential to host a cobalt resource.

The targets will be drilled out on a 25m grid to depths of up to 40m, allowing the company to map the dimensions of the mineralised body.

Those which continue to demonstrate the potential to host an economic resource will be further drilled out using a large percussion reverse-circulation rig on 40m centres to depths of up to 100m.

Expanding the Stanton resource

Northern Cobalt managing director Michael Schwarz said the positive early drill results have been a “strong step” towards adding additional resource tonnes near Stanton.

“The mounted drill rig [we are using] is proving very effective at rapidly testing the cobalt potential of our drill targets – it is drilling to a depth of 5m on average, allowing us to see beneath the overlying sands and clays which have masked the potential mineralisation below,” he said.

“Given the shallow nature of the drilling program, we would expect that assay results of 100ppm and above are a good indicator of cobalt mineralisation at depth.”

In April, Northern Cobalt posted a 41% increase to contained cobalt at Stanton, boosting numbers from 850 tonnes to 1200t.

The updated resource sits at 942,000t grading 0.13% cobalt, 0.06% nickel and 0.12% copper.

Exploration at new tenements

Northern Cobalt’s current drilling campaign is being run alongside regional exploration activities at five new tenements granted to the company in January and located in the same area as the Stanton deposit.

The tenements cover the same prospective geology which hosts Stanton and the neighbouring Selby pipe cluster, 16km to the southwest.

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